macro economic conditions are just much better for workers. Nominal wage growth is rising faster for low income workers and it is for middle or higher income workers. As a result, uber has to pay more to keep those workers in the drivers seat rather than working at no restaurant. Another great question is, should people be upset when they see rising over prices? I always try to be soft with myself and with other people when they complain about prices rising.
Venture capitalists spent years subsidizing the price of things like Uber rides and food delivery. The Atlantic’s Derek Thompson explains why they’ve stopped.
This episode was produced by Miles Bryan, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Paul Mounsey, and hosted by Noel King.
Transcript at vox.com/todayexplained
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